Flat Region of 1.0726-1.0770 | 21 Maret 2017
21 Maret 2017, EUR/USD
Daily chart: ADX doesn't support bullish attempts, so bulls are highly likely to face strong resistance around upper Bollinger band (1.0779), which will send the price back down towards 1.0621 (middle Bollinger band).
Н4: here we see general rising chart but oscillator shows divergence, that means bulls are weakening. ADX shows very weak trend which makes level of 1.0779 even stronger. In case of price dropping below level of 1.0704, we will see reversal of uptrend.
Н1: here we are observing flat region of 1.0726-1.0770, the price is not likely to leave this flat during the day.
Expectations: flat day inside the corridor of 1.0726-1.0770.
Solutions: consider selling from 1.0770-1.0779 region towards 1.0726.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
